The business community is urging Congress not to rush into any decisions after the Supreme Court rules on President Barack Obama’s health care reform law — warning that it already has enough economic turmoil on its hands.

In a letter to congressional leaders, the Business Roundtable is asking lawmakers to establish a “cooling-off” period before it acts on legislation in response to the ruling. The group wants Congress to consider the economic implications of the court’s decision and hold hearings before it responds.

“Whatever the ruling, the nation would be well-served by a ‘cooling-off period’ that would allow elected leaders to fully consider their options,” John Engler, president of the Business Roundtable and former Republican governor of Michigan, wrote in a letter obtained by POLITICO.

“The economic implications of the court’s ruling and subsequent legislation could be enormous, coming at a time when our economy is struggling and unemployment remains unacceptably high,” Engler wrote.

Congressional Republicans said they hope to schedule votes to repeal whatever remains of the law, if anything, after the ruling.

The White House and Democrats on Capitol Hill have kept a tighter lid on their plans, but numerous administration officials have said they would be “ready” for the ruling. Democrats could try to move quickly to force votes in the Senate to reinstate the law’s popular provisions, such as the requirement that insurance companies accept everyone, if the court strikes them.

But that’s exactly what the business community doesn’t want.

“We just don’t think if something is struck down, that there should be a bidding war to put it back, and if something is upheld, that there should be a bidding war to undo it,” Engler told POLITICO. “Our point is, let’s take a deep breath … It’s the kind of thing that I think most good business leaders would do. When you get a big decision, you don’t rush out and react in the heat of the moment.”

Few people expect Congress to enact any new legislation this year, regardless of how the court rules. Any health reform legislation that passes either chamber is unlikely to be passed by the other.

But the business group is urging a note of caution regardless.

“Most Americans get coverage through the workplace, and we are keenly aware that many are concerned that this decision may undermine employer-sponsored coverage,” Engler wrote. “As the providers of health care coverage to nearly 40 million beneficiaries, Business Roundtable CEOs will continue that coverage through the plan year. Still, we need to understand the ground rules.”

This article first appeared on POLITICO Pro at 5:47 a.m. on June 19, 2012.